The board of governors of the European Bank for Reconstruction and Development (EBRD) has given the go-ahead for the lender to expand its operations into Sub-Saharan Africa.

Amendments have been made to the bank’s statutes to enable the “limited and incremental expansion of its operations” to Sub-Saharan Africa as well as Iraq.

From 2025 to 2030, the EBRD will be able to invest in up to six countries in Sub-Saharan Africa. The countries eligible to apply for recipient country status are Benin, Côte d’Ivoire, Ghana, Kenya, Nigeria and Senegal.

“This is a very important moment for the bank,” said EBRD President Odile Renaud-Basso. “Our distinct business model provides real added value which can complement the work of existing development partners and accelerate transition in Sub-Saharan Africa and Iraq. This decision also reaffirms our shareholders’ commitment to the global development agenda.”

Top photo: EBRD website (© Timon Schneider | Dreamstime) 

Add a comment

ConstructAfrica welcomes lively debate, but will not publish comments that are threatening, libellous or abusive.

Plain text

  • You can align images (data-align="center"), but also videos, blockquotes, and so on.
  • You can caption images (data-caption="Text"), but also videos, blockquotes, and so on.
  • Web page addresses and email addresses turn into links automatically.
  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol type start> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id> <img src alt data-entity-type data-entity-uuid data-align data-caption>